Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Banks - Small Finance Stocks in India

Banks - Small Finance: AU Small Finance Bank Ltd owns the largest revenue base; Fino Payments Bank Ltd has the fastest current growth.

01 · the index people search for

Nifty Banks - Small Finance Index — Constituents & Performance

The Banks - Small Finance companies below are the listed Indian Banks - Small Finance universe this page tracks — the same constituent set people search for as the Nifty Banks - Small Finance index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Banks - Small Finance moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 11% behind NIFTY 500. Earnings across its companies fell 26% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 14 weeks running.

LEADER · ahead 14w✓Moving with the index5 of 9 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑14w · 8/9 >200d (+0) · 5/9 lead (−3) · EPS 6/9↑

20020262025202420232022 227333 TRAILING 12-MONTH EPS · 100 AT THE START0100216Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageSep 2022 · trailing 12-month earnings per share at 148, against 100 at the start · no comparable year yet · 3 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 169, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 199, against 100 at the start · up 98.8% on a year ago · 3 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 216, against 100 at the start · up 101.4% on a year ago · 3 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 113, against 100 at the start · up 80.2% on a year ago · 6 reportingDec 2023 · trailing 12-month earnings per share at 125, against 100 at the start · up 29.3% on a year ago · 6 reportingMar 2024 · trailing 12-month earnings per share at 130, against 100 at the start · up 12.2% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 140, against 100 at the start · up 1.9% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 135, against 100 at the start · down 2.7% on a year ago · 7 reportingDec 2024 · trailing 12-month earnings per share at 115, against 100 at the start · down 21.7% on a year ago · 7 reportingMar 2025 · trailing 12-month earnings per share at 74, against 100 at the start · down 49.3% on a year ago · 7 reportingJun 2025 · trailing 12-month earnings per share at 52, against 100 at the start · down 62.1% on a year ago · 7 reportingSep 2025 · trailing 12-month earnings per share at 42, against 100 at the start · down 64.0% on a year ago · 7 reportingDec 2025 · trailing 12-month earnings per share at 44, against 100 at the start · down 52.5% on a year ago · 7 reportingMar 2026 · trailing 12-month earnings per share at 66, against 100 at the start · down 17.5% on a year ago · 7 reportingJun 2026 · trailing 12-month earnings per share at 120, against 100 at the start · up 30.2% on a year ago · 6 reportingNot reported yet — earnings trail price by a quarter or two120No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20020262025202420232022 227333 TRAILING 12-MONTH EPS · 100 AT THE START0100216Jun 22Jun 23Jun 24Jun 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageSep 2022 · trailing 12-month earnings per share at 148, against 100 at the start · no comparable year yet · 3 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 169, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 199, against 100 at the start · up 98.8% on a year ago · 3 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 216, against 100 at the start · up 101.4% on a year ago · 3 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 113, against 100 at the start · up 80.2% on a year ago · 6 reportingDec 2023 · trailing 12-month earnings per share at 125, against 100 at the start · up 29.3% on a year ago · 6 reportingMar 2024 · trailing 12-month earnings per share at 130, against 100 at the start · up 12.2% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 140, against 100 at the start · up 1.9% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 135, against 100 at the start · down 2.7% on a year ago · 7 reportingDec 2024 · trailing 12-month earnings per share at 115, against 100 at the start · down 21.7% on a year ago · 7 reportingMar 2025 · trailing 12-month earnings per share at 74, against 100 at the start · down 49.3% on a year ago · 7 reportingJun 2025 · trailing 12-month earnings per share at 52, against 100 at the start · down 62.1% on a year ago · 7 reportingSep 2025 · trailing 12-month earnings per share at 42, against 100 at the start · down 64.0% on a year ago · 7 reportingDec 2025 · trailing 12-month earnings per share at 44, against 100 at the start · down 52.5% on a year ago · 7 reportingMar 2026 · trailing 12-month earnings per share at 66, against 100 at the start · down 17.5% on a year ago · 7 reportingJun 2026 · trailing 12-month earnings per share at 120, against 100 at the start · up 30.2% on a year ago · 6 reportingNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings do
Banks - Small Finance, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 9 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Banks - Small Finance outperforming NIFTY 500?

Banks - Small Finance has outperformed NIFTY 500 by 15.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 17.5%. 7 of 9 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. ESAF Small Finance Bank Ltd is the strongest against the sector itself at +26.4%.

+17.5%Sector vs NIFTY 500 · 13 weeks
+15.5%Sector vs NIFTY 500 · 52 weeks
7/9Stocks leading NIFTY 500
4/9Stocks leading sector

Sector metric: 21.8 as of 2026-07-19 · BROADENING · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Banks - Small Finance has outperformed NIFTY 500 by 15.5% over 52 weeks and 17.5% over 13 weeks. 7 of 9 covered companies beat NIFTY on Mansfield relative strength, while 4 of 9 beat the sector itself. AU Small Finance Bank Ltd leads with income of ₹19,560 crore, based on 9 of 9 comparable companies through Jun 2026.

Companies
9
complete canonical membership
Combined market value
₹1.2 L Cr
AU Small Finance Bank Ltd
Revenue growing
8/9
positive TTM year-on-year growth
Beating NIFTY 500
7/9
positive Mansfield relative strength
Comparing 5 of 9
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Ujjivan Small Finance Bank Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 100% evidence confidence.
Jana Small Finance Bank Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Ujjivan Small Finance Bank LtdUJJIVANSFB 63.5/100Mixed-positive evidence100% evidence BREAKING OUT 21.2/35 Income 14.7% · PAT 71.8% 100% evidence 18.3/25 ROA 1.2% · ROE 10.8% · GNPA 2.2% 100% evidence 7.4/20 P/BV 2.05× · P/BV÷ROE 0.19 100% evidence 16.6/20 RS sector 11.7% · RS bench 28.7% · 1Y 65.6%4 of 12 weeks ahead 100% evidence
Exact sum: 21.2 + 18.3 + 7.4 + 16.6 = 63.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2AU Small Finance Bank LtdAUBANK 58.5/100Mixed-positive evidence100% evidence FADING 23.6/35 Income 17.3% · PAT 30.8% 100% evidence 22.1/25 ROA 1.4% · ROE 14.3% · GNPA 2.1% 100% evidence 6.0/20 P/BV 3.97× · P/BV÷ROE 0.28 100% evidence 6.8/20 RS sector -3.5% · RS bench 11.2% · 1Y 42.8%4 of 12 weeks ahead 100% evidence
Exact sum: 23.6 + 22.1 + 6 + 6.8 = 58.5 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -3.5% and the one-year return is 42.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Suryoday Small Finance Bank LtdSURYODAY 55.0/100Mixed-positive evidence97% evidence FADING 31.2/35 Income 16.7% · PAT 100% 95% evidence 10.1/25 ROA 1.1% · ROE 7.6% · GNPA 6.6% 95% evidence 7.8/20 P/BV 0.83× · P/BV÷ROE 0.11 100% evidence 5.9/20 RS sector -4.8% · RS bench 9.4% · 1Y 21.4%11 of 12 weeks ahead 100% evidence
Exact sum: 31.2 + 10.1 + 7.8 + 5.9 = 55 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -4.8% and the one-year return is 21.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4Capital Small Finance Bank LtdCAPITALSFB 54.7/100Mixed-positive evidence91% evidence FADING 16.5/35 Income 16.2% · PAT 12.8% 95% evidence 16.4/25 ROA 1.3% · ROE 10.1% · GNPA 2.5% 95% evidence 16.5/20 P/BV 0.89× · P/BV÷ROE 0.09 70% evidence 5.3/20 RS sector -9.1% · RS bench 4.8% · 1Y -3.3%8 of 12 weeks ahead 100% evidence
Exact sum: 16.5 + 16.4 + 16.5 + 5.3 = 54.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5ESAF Small Finance Bank LtdESAFSFB 54.3/100Mixed-positive evidence75% evidence LEADER 21.5/35 Income 3.9% · PAT 99.3% 65% evidence 5.2/25 ROA -0.5% · ROE -8.9% · GNPA 5.4% 95% evidence 7.6/20 P/BV 1.21× · P/BV÷ROE — 40% evidence 20.0/20 RS sector 26.4% · RS bench 45.1% · 1Y 31.7%10 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 5.2 + 7.6 + 20 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Jana Small Finance Bank LtdJSFB 51.0/100Mixed-positive evidence94% evidence LEADER 13.5/35 Income 18.3% · PAT -12.2% 100% evidence 11.8/25 ROA 0.7% · ROE 7.6% · GNPA 2.4% 100% evidence 8.6/20 P/BV 1.37× · P/BV÷ROE 0.18 70% evidence 17.1/20 RS sector 11.6% · RS bench 28.4% · 1Y 27.4%12 of 12 weeks ahead 100% evidence
Exact sum: 13.5 + 11.8 + 8.6 + 17.1 = 51 · Decision use: Price leads the evidence: RS versus the benchmark is 28.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
7Equitas Small Finance Bank LtdEQUITASBNK 42.8/100Mixed-negative evidence83% evidence TURNING 16.9/35 Income 10% · PAT 100% 69% evidence 9.1/25 ROA 0.2% · ROE 1.7% · GNPA 2.4% 100% evidence 3.2/20 P/BV 1.4× · P/BV÷ROE 0.83 100% evidence 13.6/20 RS sector 7.5% · RS bench 15.7% · 1Y 22.9%9 of 11 weeks ahead 70% evidence
Exact sum: 16.9 + 9.1 + 3.2 + 13.6 = 42.8 · Decision use: Price leads the evidence: RS versus the benchmark is 15.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
8Fino Payments Bank LtdFINOPB 33.4/100Adverse evidence76% evidence TURNING 12.4/35 Income 27.1% · PAT -43.3% 71% evidence 11.5/25 ROA 1% · ROE 7.4% · GNPA — 68% evidence 6.5/20 P/BV 1.72× · P/BV÷ROE 0.23 100% evidence 3.0/20 RS sector -39.4% · RS bench -25.9% · 1Y -41.7%3 of 10 weeks ahead 70% evidence
Exact sum: 12.4 + 11.5 + 6.5 + 3 = 33.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Utkarsh Small Finance Bank LtdUTKARSHBNK 23.3/100Adverse evidence77% evidence ASLEEP 10.1/35 Income -8.1% · PAT -80% 69% evidence 0.9/25 ROA -4% · ROE -40% · GNPA 6.1% 100% evidence 9.2/20 P/BV 0.94× · P/BV÷ROE — 40% evidence 3.1/20 RS sector -18.2% · RS bench -5.7% · 1Y -23.7%5 of 12 weeks ahead 100% evidence
Exact sum: 10.1 + 0.9 + 9.2 + 3.1 = 23.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

Ujjivan Small Finance Bank Ltd has the strongest one-year price move in Banks - Small Finance at +65.6%. ESAF Small Finance Bank Ltd leads on Mansfield relative strength against NIFTY at +45.1%. 7 of 9 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Income Scale & Growth Durability

AU Small Finance Bank Ltd has the highest Income among the 9 Banks - Small Finance companies compared here, at ₹19,560 crore. Ujjivan Small Finance Bank Ltd is next at ₹7,337 crore. Fino Payments Bank Ltd has the highest Income growth at 27.1%, so level and change sit with different companies.

What the numbers say: AU Small Finance Bank Ltd is the scale leader at ₹19,560 crore, 166.6% ahead of Ujjivan Small Finance Bank Ltd. Fino Payments Bank Ltd's growth is 27.1% from a ₹248 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderAU Small Finance Bank Ltd · ₹19,560 crore
Gap166.6% versus #2 · Ujjivan Small Finance Bank Ltd
Persistence8/8 recent comparable periods
Coverage9/9 companies · 159 observations

Investor read: AU Small Finance Bank Ltd is the scale benchmark; Fino Payments Bank Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: AU Small Finance Bank Ltd's growth falls below Fino Payments Bank Ltd's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Incomelargest
1AU Small Finance Bank Ltd AUBANK₹19.6K Cr
2Ujjivan Small Finance Bank Ltd UJJIVANSFB₹7.3K Cr
3Equitas Small Finance Bank Ltd EQUITASBNK₹7.1K Cr
4Jana Small Finance Bank Ltd JSFB₹5.6K Cr
5ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified₹3.8K Cr
Income growthfastest growers
1Fino Payments Bank Ltd FINOPB⚠ unverified27%
2Jana Small Finance Bank Ltd JSFB18%
3AU Small Finance Bank Ltd AUBANK17%
4Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified17%
5Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified16%
Income · company comparison
9/9 level · 9/9 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyIncomeIncome growthReported
AU Small Finance Bank Ltd AUBANK₹5.3K Cr21%Jun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB₹2.0K Cr25%Jun 2026
Equitas Small Finance Bank Ltd EQUITASBNK₹2.0K Cr19%Jun 2026
Jana Small Finance Bank Ltd JSFB₹1.5K Cr22%Jun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified₹1.1K Cr33%Jun 2026
Utkarsh Small Finance Bank Ltd UTKARSHBNK₹884 Cr0.3%Jun 2026
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified₹622 Cr26%Jun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified₹288 Cr17%Jun 2026
Fino Payments Bank Ltd FINOPB⚠ unverified₹64 Cr21%Mar 2026
Full 20-quarter history · every available company

Income · reported quarter history

AU Small Finance Bank Ltd · AUBANK

₹1.4K Cr
₹1.5K Cr
₹1.7K Cr
₹1.8K Cr
₹2.0K Cr
₹2.1K Cr
₹2.3K Cr
₹2.5K Cr
₹2.5K Cr
₹2.7K Cr
₹2.8K Cr
₹3.8K Cr
₹3.9K Cr
₹4.1K Cr
₹4.3K Cr
₹4.4K Cr
₹4.5K Cr
₹4.7K Cr
₹5.0K Cr
₹5.3K Cr

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
₹177 Cr
₹179 Cr
₹189 Cr
₹197 Cr
₹204 Cr
₹204 Cr
₹218 Cr
₹224 Cr
₹235 Cr
₹231 Cr
₹247 Cr
₹256 Cr
₹272 Cr
₹273 Cr
₹288 Cr

Equitas Small Finance Bank Ltd · EQUITASBNK

₹844 Cr
₹901 Cr
₹896 Cr
₹940 Cr
₹1.0K Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
₹2.0K Cr

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
₹701 Cr
₹774 Cr
₹899 Cr
₹943 Cr
₹974 Cr
₹1.0K Cr
₹1.0K Cr
₹995 Cr
₹948 Cr
₹892 Cr
₹828 Cr
₹820 Cr
₹894 Cr
₹995 Cr
₹1.1K Cr

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
₹25 Cr
₹29 Cr
₹33 Cr
₹37 Cr
₹39 Cr
₹41 Cr
₹45 Cr
₹48 Cr
₹49 Cr
₹53 Cr
₹61 Cr
₹60 Cr
₹63 Cr
₹64 Cr
—

Jana Small Finance Bank Ltd · JSFB

₹668 Cr
₹699 Cr
₹694 Cr
₹678 Cr
₹718 Cr
₹809 Cr
₹849 Cr
₹885 Cr
₹979 Cr
₹1.0K Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
₹292 Cr
₹329 Cr
₹358 Cr
₹375 Cr
₹411 Cr
₹445 Cr
₹488 Cr
₹507 Cr
₹488 Cr
₹471 Cr
₹495 Cr
₹520 Cr
₹544 Cr
₹602 Cr
₹622 Cr

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

₹645 Cr
₹708 Cr
₹818 Cr
₹905 Cr
₹993 Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
₹1.9K Cr
₹2.0K Cr

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

₹428 Cr
₹441 Cr
₹536 Cr
₹571 Cr
₹602 Cr
₹641 Cr
₹691 Cr
₹720 Cr
₹756 Cr
₹806 Cr
₹896 Cr
₹966 Cr
₹987 Cr
₹932 Cr
₹880 Cr
₹881 Cr
₹840 Cr
₹821 Cr
₹837 Cr
₹884 Cr

Income growth · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
—
35%
42%
42%
36%
35%
27%
29%
24%
53%
55%
50%
51%
16%
15%
15%
18%
21%

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
—
15%
14%
15%
14%
15%
13%
13%
14%
16%
18%
17%

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
—
15%
19%
18%
29%
33%
36%
34%
25%
20%
14%
13%
14%
9.9%
4.0%
5.0%
12%
19%

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
—
39%
29%
14%
5.5%
-2.7%
-11%
-19%
-18%
-5.7%
12%
33%

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
—
—
—
—
57%
41%
37%
31%
26%
27%
35%
26%
28%
21%
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
7.5%
16%
22%
31%
36%
28%
31%
32%
19%
13%
6.5%
6.3%
12%
17%
22%
22%

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
—
—
—
—
41%
35%
36%
35%
19%
5.8%
1.4%
2.6%
11%
28%
26%

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
41%
54%
53%
45%
42%
40%
36%
29%
23%
16%
8.2%
2.9%
2.7%
4.3%
10%
19%
25%

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
28%
41%
45%
29%
26%
26%
26%
30%
34%
31%
16%
-1.8%
-8.8%
-15%
-12%
-4.9%
0.3%
07 · compare level, then change

Profit Scale & Acceleration

AU Small Finance Bank Ltd has the highest Net profit among the 9 Banks - Small Finance companies compared here, at ₹2,857 crore. Ujjivan Small Finance Bank Ltd is next at ₹907 crore. Suryoday Small Finance Bank Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: AU Small Finance Bank Ltd leads with ₹2,857 crore of TTM profit, 215% above Ujjivan Small Finance Bank Ltd. Suryoday Small Finance Bank Ltd shows ≥100% on the scoring scale (143% uncapped) growth from a ₹192 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderAU Small Finance Bank Ltd · ₹2,857 crore
Gap215% versus #2 · Ujjivan Small Finance Bank Ltd
Persistence7/8 recent comparable periods
Coverage9/9 companies · 159 observations

Investor read: AU Small Finance Bank Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profitlargest
1AU Small Finance Bank Ltd AUBANK₹2.9K Cr
2Ujjivan Small Finance Bank Ltd UJJIVANSFB₹907 Cr
3Equitas Small Finance Bank Ltd EQUITASBNK₹511 Cr
4Jana Small Finance Bank Ltd JSFB₹380 Cr
5Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified₹192 Cr
Profit growthfastest growers
1Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified100%
2Ujjivan Small Finance Bank Ltd UJJIVANSFB72%
3AU Small Finance Bank Ltd AUBANK31%
4Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified13%
5Jana Small Finance Bank Ltd JSFB-12%
Net profit · company comparison
9/9 level · 6/9 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
AU Small Finance Bank Ltd AUBANK₹796 Cr37%Jun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB₹317 Cr208%Jun 2026
Equitas Small Finance Bank Ltd EQUITASBNK₹184 Cr407%Jun 2026
Jana Small Finance Bank Ltd JSFB₹155 Cr52%Jun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified₹80 Cr-229%Jun 2026
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified₹75 Cr114%Jun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified₹41 Cr28%Jun 2026
Fino Payments Bank Ltd FINOPB⚠ unverified₹7 Cr-70%Mar 2026
Utkarsh Small Finance Bank Ltd UTKARSHBNK₹-34 Cr-6,367%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

AU Small Finance Bank Ltd · AUBANK

₹279 Cr
₹302 Cr
₹346 Cr
₹268 Cr
₹343 Cr
₹393 Cr
₹425 Cr
₹387 Cr
₹402 Cr
₹375 Cr
₹371 Cr
₹503 Cr
₹571 Cr
₹528 Cr
₹504 Cr
₹581 Cr
₹561 Cr
₹668 Cr
₹832 Cr
₹796 Cr

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
₹28 Cr
₹24 Cr
₹30 Cr
₹24 Cr
₹29 Cr
₹28 Cr
₹30 Cr
₹33 Cr
₹34 Cr
₹34 Cr
₹32 Cr
₹35 Cr
₹34 Cr
₹40 Cr
₹41 Cr

Equitas Small Finance Bank Ltd · EQUITASBNK

₹41 Cr
₹108 Cr
₹120 Cr
₹97 Cr
₹116 Cr
₹170 Cr
₹190 Cr
₹191 Cr
₹198 Cr
₹202 Cr
₹208 Cr
₹26 Cr
₹13 Cr
₹66 Cr
₹42 Cr
₹-224 Cr
₹24 Cr
₹90 Cr
₹213 Cr
₹184 Cr

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
₹37 Cr
₹101 Cr
₹130 Cr
₹140 Cr
₹112 Cr
₹43 Cr
₹63 Cr
₹-190 Cr
₹-211 Cr
₹-183 Cr
₹-81 Cr
₹-116 Cr
₹7 Cr
₹24 Cr
₹80 Cr

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
₹19 Cr
₹22 Cr
₹19 Cr
₹20 Cr
₹23 Cr
₹25 Cr
₹24 Cr
₹21 Cr
₹23 Cr
₹24 Cr
₹18 Cr
₹15 Cr
₹12 Cr
₹7 Cr
—

Jana Small Finance Bank Ltd · JSFB

₹7 Cr
₹-6 Cr
₹1 Cr
₹45 Cr
₹11 Cr
₹119 Cr
₹81 Cr
₹90 Cr
₹123 Cr
₹135 Cr
₹322 Cr
₹171 Cr
₹97 Cr
₹111 Cr
₹123 Cr
₹102 Cr
₹75 Cr
₹10 Cr
₹140 Cr
₹155 Cr

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
₹18 Cr
₹39 Cr
₹48 Cr
₹50 Cr
₹57 Cr
₹61 Cr
₹70 Cr
₹45 Cr
₹33 Cr
₹-34 Cr
₹35 Cr
₹30 Cr
₹37 Cr
₹50 Cr
₹75 Cr

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

₹-274 Cr
₹-34 Cr
₹127 Cr
₹203 Cr
₹294 Cr
₹293 Cr
₹310 Cr
₹324 Cr
₹328 Cr
₹300 Cr
₹330 Cr
₹301 Cr
₹233 Cr
₹109 Cr
₹83 Cr
₹103 Cr
₹122 Cr
₹186 Cr
₹282 Cr
₹317 Cr

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

₹21 Cr
₹-25 Cr
₹48 Cr
₹89 Cr
₹88 Cr
₹94 Cr
₹134 Cr
₹108 Cr
₹114 Cr
₹116 Cr
₹160 Cr
₹137 Cr
₹51 Cr
₹-168 Cr
₹3 Cr
₹-239 Cr
₹-348 Cr
₹-375 Cr
₹-188 Cr
₹-34 Cr

Profit growth · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
—
32%
23%
30%
23%
44%
17%
-4.6%
-13%
30%
42%
41%
36%
16%
-1.8%
27%
65%
37%

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
—
3.6%
17%
0.0%
38%
17%
21%
6.7%
6.1%
0.0%
18%
28%

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
—
708%
183%
57%
58%
97%
71%
19%
9.5%
-86%
-93%
-67%
-80%
-962%
85%
36%
407%
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
—
199%
-57%
-52%
-236%
-288%
-526%
-229%
—
—
—
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
—
—
—
—
20%
14%
30%
8.4%
1.4%
-4.8%
-27%
-27%
-47%
-70%
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
57%
—
8,000%
100%
1,018%
13%
298%
90%
-21%
-18%
-62%
-40%
-23%
-91%
14%
52%

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
—
—
—
—
217%
56%
46%
-10%
-42%
-156%
-50%
-33%
12%
—
114%

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
—
—
—
144%
60%
12%
2.4%
6.5%
-7.1%
-29%
-64%
-75%
-66%
-48%
71%
240%
208%

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
456%
319%
—
179%
21%
30%
23%
19%
27%
-55%
-245%
-98%
-274%
-782%
—
-6,367%
—
08 · compare level, then change

Funding Base & Its Composition

AU Small Finance Bank Ltd has the highest Deposits among the 9 Banks - Small Finance companies compared here, at ₹1,52,661 crore. Equitas Small Finance Bank Ltd is next at ₹46,533 crore. The same company also holds the highest Borrowings, at ₹13,872 crore. 9 of 9 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: AU Small Finance Bank Ltd leads both deposits at ₹1,52,661 crore and borrowings at ₹13,872 crore.

LeaderAU Small Finance Bank Ltd · ₹1,52,661 crore
Gap228.1% versus #2 · Equitas Small Finance Bank Ltd
Persistence8/8 recent comparable periods
Coverage9/9 companies · 112 observations

Investor read: AU Small Finance Bank Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
1AU Small Finance Bank Ltd AUBANK₹1.5 L Cr
2Equitas Small Finance Bank Ltd EQUITASBNK₹46.5K Cr
3Ujjivan Small Finance Bank Ltd UJJIVANSFB₹45.7K Cr
4Jana Small Finance Bank Ltd JSFB₹35.8K Cr
5ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified₹25.9K Cr
Borrowingslargest borrowings
1AU Small Finance Bank Ltd AUBANK₹13.9K Cr
2Equitas Small Finance Bank Ltd EQUITASBNK₹5.8K Cr
3Jana Small Finance Bank Ltd JSFB₹5.5K Cr
4Ujjivan Small Finance Bank Ltd UJJIVANSFB₹3.7K Cr
5Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified₹3.1K Cr
Funding base · company comparison
9/9 level · 9/9 change
All-company data · latest reported quarter
CompanyDepositsBorrowingsReported
AU Small Finance Bank Ltd AUBANK₹1.5 L Cr₹13.9K CrJun 2026
Equitas Small Finance Bank Ltd EQUITASBNK₹46.5K Cr₹5.8K CrJun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB₹45.7K Cr₹3.7K CrJun 2026
Jana Small Finance Bank Ltd JSFB₹35.8K Cr₹5.5K CrJun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified₹25.9K Cr₹2.8K CrJun 2026
Utkarsh Small Finance Bank Ltd UTKARSHBNK₹21.7K Cr₹2.8K CrJun 2026
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified₹14.0K Cr₹3.1K CrJun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified₹10.6K Cr₹686 CrJun 2026
Fino Payments Bank Ltd FINOPB⚠ unverified₹2.4K Cr₹1.5K CrMar 2026
Full 20-quarter history · every available company

Deposits · reported quarter history

AU Small Finance Bank Ltd · AUBANK

₹39.0K Cr
—
₹52.6K Cr
—
₹58.3K Cr
—
₹69.4K Cr
—
₹75.7K Cr
—
₹87.2K Cr
—
₹1.1 L Cr
—
₹1.2 L Cr
—
₹1.3 L Cr
—
₹1.5 L Cr
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
₹6.0K Cr
₹6.2K Cr
₹6.2K Cr
—
₹6.6K Cr
₹7.1K Cr
₹7.0K Cr
—
₹7.5K Cr
₹7.8K Cr
₹7.8K Cr
₹8.4K Cr
₹8.3K Cr
₹9.1K Cr
₹9.3K Cr
₹9.9K Cr
₹10.0K Cr
₹10.6K Cr

Equitas Small Finance Bank Ltd · EQUITASBNK

₹18.1K Cr
₹17.9K Cr
₹18.2K Cr
—
₹21.7K Cr
₹23.4K Cr
₹24.4K Cr
—
₹30.8K Cr
—
₹34.9K Cr
—
₹39.9K Cr
—
₹41.5K Cr
—
₹44.1K Cr
—
₹46.5K Cr
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

₹10.7K Cr
—
₹12.8K Cr
—
₹13.5K Cr
—
₹14.7K Cr
₹15.7K Cr
₹17.4K Cr
—
₹19.9K Cr
—
₹21.6K Cr
—
₹23.3K Cr
—
₹22.9K Cr
—
₹25.9K Cr
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

₹302 Cr
—
₹503 Cr
—
₹634 Cr
—
₹917 Cr
—
₹1.0K Cr
—
₹1.4K Cr
—
₹1.4K Cr
—
₹1.9K Cr
—
₹2.1K Cr
—
₹2.4K Cr
—

Jana Small Finance Bank Ltd · JSFB

₹12.8K Cr
—
₹13.5K Cr
₹13.5K Cr
₹14.2K Cr
₹15.2K Cr
₹16.3K Cr
₹16.8K Cr
₹18.9K Cr
—
₹22.6K Cr
—
₹24.8K Cr
—
₹29.1K Cr
—
₹32.5K Cr
—
₹35.8K Cr
—

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

₹3.1K Cr
₹3.2K Cr
₹3.9K Cr
₹4.0K Cr
₹4.2K Cr
₹4.7K Cr
₹5.2K Cr
₹5.7K Cr
₹6.4K Cr
₹6.5K Cr
₹7.8K Cr
—
₹8.9K Cr
₹9.7K Cr
₹10.6K Cr
₹11.3K Cr
₹12.0K Cr
₹12.9K Cr
₹14.0K Cr
—

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

₹14.1K Cr
₹15.6K Cr
₹18.3K Cr
₹18.4K Cr
₹20.4K Cr
₹23.2K Cr
₹25.5K Cr
—
₹29.1K Cr
—
₹31.5K Cr
—
₹34.1K Cr
—
₹37.6K Cr
—
₹39.2K Cr
—
₹45.7K Cr
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

₹8.1K Cr
—
₹10.1K Cr
—
—
—
₹13.7K Cr
—
₹14.0K Cr
—
₹17.5K Cr
—
₹19.5K Cr
—
₹21.6K Cr
—
₹21.4K Cr
—
₹21.7K Cr
—

Borrowings · reported quarter history

AU Small Finance Bank Ltd · AUBANK

₹5.0K Cr
₹5.0K Cr
₹6.0K Cr
₹6.0K Cr
₹6.7K Cr
₹6.7K Cr
₹6.3K Cr
₹6.3K Cr
₹5.3K Cr
₹5.3K Cr
₹5.5K Cr
₹5.5K Cr
₹8.8K Cr
₹8.8K Cr
₹11.7K Cr
₹11.7K Cr
₹10.3K Cr
₹10.3K Cr
₹13.9K Cr
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
₹498 Cr
₹565 Cr
₹783 Cr
₹783 Cr
₹721 Cr
₹696 Cr
₹573 Cr
₹573 Cr
₹472 Cr
₹466 Cr
₹390 Cr
₹354 Cr
₹321 Cr
₹488 Cr
₹577 Cr
₹566 Cr
₹499 Cr
₹686 Cr

Equitas Small Finance Bank Ltd · EQUITASBNK

₹3.1K Cr
₹2.8K Cr
₹2.6K Cr
₹2.6K Cr
₹2.3K Cr
₹2.7K Cr
₹3.0K Cr
₹3.0K Cr
₹2.5K Cr
₹2.5K Cr
₹1.8K Cr
₹1.8K Cr
₹1.1K Cr
₹1.1K Cr
₹2.1K Cr
₹2.1K Cr
₹3.5K Cr
₹3.5K Cr
₹5.8K Cr
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

₹1.5K Cr
₹1.5K Cr
₹3.0K Cr
₹3.0K Cr
₹2.6K Cr
₹2.6K Cr
₹3.4K Cr
₹2.7K Cr
₹2.4K Cr
₹2.4K Cr
₹3.2K Cr
₹3.2K Cr
₹2.1K Cr
₹2.1K Cr
₹1.4K Cr
₹1.4K Cr
₹2.1K Cr
₹2.1K Cr
₹2.8K Cr
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

₹262 Cr
₹262 Cr
₹250 Cr
₹250 Cr
₹743 Cr
₹743 Cr
₹434 Cr
₹434 Cr
₹1.0K Cr
₹1.0K Cr
₹713 Cr
₹713 Cr
₹796 Cr
—
₹839 Cr
₹839 Cr
₹865 Cr
₹865 Cr
₹1.5K Cr
—

Jana Small Finance Bank Ltd · JSFB

₹5.4K Cr
—
₹4.7K Cr
₹5.7K Cr
₹6.0K Cr
₹5.6K Cr
₹6.5K Cr
₹6.0K Cr
₹5.3K Cr
—
₹5.2K Cr
₹5.2K Cr
₹3.5K Cr
₹3.5K Cr
₹3.9K Cr
₹3.9K Cr
₹3.8K Cr
₹3.8K Cr
₹5.5K Cr
₹5.5K Cr

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

₹1.7K Cr
₹2.3K Cr
₹2.6K Cr
₹2.7K Cr
₹2.4K Cr
₹2.4K Cr
₹2.8K Cr
₹2.5K Cr
₹2.5K Cr
₹2.6K Cr
₹2.4K Cr
—
₹2.2K Cr
₹2.0K Cr
₹2.7K Cr
₹2.3K Cr
₹2.2K Cr
₹1.7K Cr
₹3.1K Cr
₹3.1K Cr

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

₹1.7K Cr
₹1.9K Cr
₹2.0K Cr
₹1.9K Cr
₹1.7K Cr
₹2.3K Cr
₹2.8K Cr
₹2.6K Cr
₹3.7K Cr
₹3.7K Cr
₹2.2K Cr
₹2.2K Cr
₹2.6K Cr
₹2.6K Cr
₹2.8K Cr
₹2.8K Cr
₹3.0K Cr
₹3.0K Cr
₹3.7K Cr
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

₹2.0K Cr
₹2.0K Cr
₹2.6K Cr
₹2.6K Cr
—
—
₹2.3K Cr
₹2.3K Cr
₹1.9K Cr
—
₹2.0K Cr
₹2.0K Cr
₹2.0K Cr
₹2.0K Cr
₹2.4K Cr
₹2.4K Cr
₹2.0K Cr
₹2.0K Cr
₹2.8K Cr
—
09 · compare level, then change

Return On Assets

AU Small Finance Bank Ltd has the highest ROA among the 9 Banks - Small Finance companies compared here, at 1.4%. Capital Small Finance Bank Ltd is next at 1.3%. Suryoday Small Finance Bank Ltd has the highest ROA change at +2 percentage points, so level and change sit with different companies.

What the numbers say: AU Small Finance Bank Ltd leads roa at 1.4%; Suryoday Small Finance Bank Ltd leads roa change at +2 percentage points.

LeaderAU Small Finance Bank Ltd · 1.4%
Gap7.7% versus #2 · Capital Small Finance Bank Ltd
Persistence2/7 recent comparable periods
Coverage9/9 companies · 101 observations

Investor read: AU Small Finance Bank Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
1AU Small Finance Bank Ltd AUBANK1.4%
2Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified1.3%
3Ujjivan Small Finance Bank Ltd UJJIVANSFB1.2%
4Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified1.1%
5Fino Payments Bank Ltd FINOPB⚠ unverified1.0%
ROA changefastest improvers
1Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified+2.0 pp
2ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified+1.4 pp
3AU Small Finance Bank Ltd AUBANK+0.1 pp
4Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified−0.1 pp
5Equitas Small Finance Bank Ltd EQUITASBNK−0.1 pp
Return on assets · company comparison
9/9 level · 9/9 change
All-company data · latest reported quarter
CompanyROAROA changeReported
AU Small Finance Bank Ltd AUBANK1.4%+0.1 ppJun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified1.3%−0.1 ppJun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB1.2%−0.3 ppJun 2026
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified1.1%+2.0 ppJun 2026
Fino Payments Bank Ltd FINOPB⚠ unverified1.0%−1.2 ppMar 2026
Jana Small Finance Bank Ltd JSFB0.7%−0.6 ppJun 2026
Equitas Small Finance Bank Ltd EQUITASBNK0.2%−0.1 ppJun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified-0.5%+1.4 ppJun 2026
Utkarsh Small Finance Bank Ltd UTKARSHBNK-4.0%−4.1 ppJun 2026
Full 20-quarter history · every available company

ROA · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
1.6%
—
1.6%
—
1.6%
—
1.7%
—
1.4%
—
1.3%
—
1.3%
—
1.3%
—
1.4%
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
1.0%
1.2%
—
—
1.5%
1.1%
1.2%
1.2%
1.3%
1.4%
1.4%
1.4%
1.2%
1.2%
1.2%
1.3%

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
1.7%
1.8%
1.5%
1.6%
2.2%
2.3%
1.9%
—
1.8%
—
0.9%
—
0.3%
—
-0.2%
—
0.2%
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
2.5%
2.6%
1.6%
—
0.1%
—
-1.9%
—
-2.2%
—
-0.5%
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
—
—
—
2.6%
—
2.5%
—
2.6%
—
2.2%
—
1.9%
—
1.0%
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
0.2%
0.9%
0.2%
2.1%
1.3%
1.4%
1.8%
2.0%
—
2.2%
—
1.3%
—
1.0%
—
0.7%
—

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
-0.1%
0.3%
-2.5%
0.4%
0.6%
0.8%
1.7%
1.9%
1.9%
2.1%
2.1%
1.7%
1.5%
1.0%
-0.9%
0.9%
0.7%
0.9%
1.1%

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

-4.7%
-5.6%
-0.7%
2.3%
3.4%
4.6%
4.1%
3.9%
3.2%
—
3.2%
—
2.7%
—
1.5%
—
0.8%
—
1.2%
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
0.4%
—
—
—
2.1%
—
2.3%
—
2.1%
—
1.8%
—
0.1%
—
-2.7%
—
-4.0%
—

ROA change · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
—
—
—
—
0.0 pp
—
+0.1 pp
—
−0.2 pp
—
−0.4 pp
—
−0.1 pp
—
0.0 pp
—
+0.1 pp
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
+0.5 pp
−0.1 pp
—
—
−0.2 pp
+0.3 pp
+0.2 pp
+0.2 pp
−0.1 pp
−0.2 pp
−0.2 pp
−0.1 pp

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
—
—
—
—
+0.5 pp
+0.5 pp
+0.4 pp
—
−0.4 pp
—
−1.0 pp
—
−1.5 pp
—
−1.1 pp
—
−0.1 pp
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
−2.4 pp
—
−3.5 pp
—
−2.3 pp
—
+1.4 pp
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
0.0 pp
—
−0.3 pp
—
−0.7 pp
—
−1.2 pp
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
—
—
—
+1.1 pp
+0.5 pp
+1.6 pp
−0.1 pp
—
+0.8 pp
—
−0.7 pp
—
−1.2 pp
—
−0.6 pp
—

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
+0.7 pp
+0.5 pp
+4.2 pp
+1.5 pp
+1.3 pp
+1.3 pp
+0.4 pp
−0.2 pp
−0.4 pp
−1.1 pp
−3.0 pp
−0.8 pp
−0.8 pp
−0.1 pp
+2.0 pp

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
—
+8.1 pp
+10.2 pp
+4.8 pp
+1.6 pp
−0.2 pp
—
−0.9 pp
—
−0.5 pp
—
−1.7 pp
—
−1.9 pp
—
−0.3 pp
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
—
—
—
+1.7 pp
—
—
—
0.0 pp
—
−0.5 pp
—
−2.0 pp
—
−4.5 pp
—
−4.1 pp
—
10 · compare level, then change

ROE — Leaders & Improvers

AU Small Finance Bank Ltd has the highest ROE among the 9 Banks - Small Finance companies compared here, at 14.3%. Ujjivan Small Finance Bank Ltd is next at 10.8%. ESAF Small Finance Bank Ltd has the highest ROE change at +37.7 percentage points, so level and change sit with different companies.

What the numbers say: AU Small Finance Bank Ltd leads roe at 14.3%; ESAF Small Finance Bank Ltd leads roe change at +37.7 percentage points.

LeaderAU Small Finance Bank Ltd · 14.3%
Gap32.4% versus #2 · Ujjivan Small Finance Bank Ltd
Persistence4/8 recent comparable periods
Coverage9/9 companies · 160 observations

Investor read: AU Small Finance Bank Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.
ROEhighest
1AU Small Finance Bank Ltd AUBANK14%
2Ujjivan Small Finance Bank Ltd UJJIVANSFB11%
3Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified10%
4Jana Small Finance Bank Ltd JSFB7.6%
5Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified7.6%
ROE changefastest improvers
1ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified+37.7 pp
2Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified+16.7 pp
3Ujjivan Small Finance Bank Ltd UJJIVANSFB+4.3 pp
4Equitas Small Finance Bank Ltd EQUITASBNK+1.6 pp
5AU Small Finance Bank Ltd AUBANK+1.4 pp
Return on equity · company comparison
9/9 level · 9/9 change
All-company data · latest reported quarter
CompanyROEROE changeReported
AU Small Finance Bank Ltd AUBANK15%+1.4 ppJun 2026
Jana Small Finance Bank Ltd JSFB13%+0.3 ppJun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB12%+4.3 ppJun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified11%+0.7 ppJun 2026
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified9.7%+16.7 ppJun 2026
Fino Payments Bank Ltd FINOPB⚠ unverified6.2%−6.2 ppMar 2026
Equitas Small Finance Bank Ltd EQUITASBNK6.1%+1.6 ppJun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified1.6%+37.7 ppJun 2026
Utkarsh Small Finance Bank Ltd UTKARSHBNK-63%−41.2 ppJun 2026
Full 20-quarter history · every available company

ROE · reported quarter history

AU Small Finance Bank Ltd · AUBANK

13%
17%
18%
19%
14%
16%
16%
16%
14%
14%
13%
12%
16%
16%
13%
12%
14%
13%
15%
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
14%
17%
20%
17%
19%
14%
16%
12%
9.9%
11%
11%
10%
9.4%
10%
9.8%
11%

Equitas Small Finance Bank Ltd · EQUITASBNK

1.4%
4.8%
12%
12%
9.1%
11%
15%
16%
15%
15%
15%
15%
1.7%
0.9%
4.5%
2.8%
-15%
1.6%
6.1%
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
18%
32%
30%
15%
9.5%
25%
29%
29%
23%
7.7%
10%
-32%
-36%
-34%
-17%
-25%
1.6%
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
35%
22%
8.4%
11%
15%
17%
14%
14%
15%
16%
15%
13%
12%
13%
9.5%
8.0%
6.2%
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
3.6%
14%
2.9%
29%
19%
17%
20%
19%
21%
19%
10%
12%
12%
9.9%
7.1%
0.9%
13%

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
-0.5%
1.2%
-13%
2.1%
3.4%
4.7%
9.9%
12%
12%
13%
14%
12%
11%
6.9%
-7.0%
7.3%
6.2%
7.3%
9.7%

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

-30%
-39%
-5.0%
19%
28%
35%
30%
30%
31%
29%
25%
25%
22%
16%
7.4%
5.6%
6.8%
7.8%
12%
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

4.8%
—
-6.3%
12%
23%
—
20%
21%
22%
20%
17%
18%
19%
6.7%
-22%
0.4%
-32%
-52%
-63%
—

ROE change · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
—
—
+1.3 pp
−1.6 pp
−2.3 pp
−3.3 pp
−0.2 pp
−1.4 pp
−2.7 pp
−3.9 pp
+1.9 pp
+1.9 pp
+0.4 pp
−0.1 pp
−2.5 pp
−3.4 pp
+1.4 pp
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
+4.6 pp
−2.8 pp
−4.0 pp
−4.8 pp
−8.6 pp
−3.2 pp
−5.7 pp
−1.4 pp
−0.5 pp
−0.6 pp
−0.8 pp
+0.7 pp

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
—
—
+7.7 pp
+5.9 pp
+2.6 pp
+3.3 pp
+5.7 pp
+4.2 pp
−0.2 pp
−1.0 pp
−13.1 pp
−14.0 pp
−10.2 pp
−11.7 pp
−16.4 pp
+0.7 pp
+1.6 pp
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
−8.7 pp
−7.2 pp
−0.8 pp
+13.9 pp
+13.1 pp
−16.9 pp
−19.1 pp
−60.8 pp
−58.7 pp
−41.9 pp
−26.8 pp
+6.5 pp
+37.7 pp
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
—
—
—
—
−19.7 pp
−5.2 pp
+5.1 pp
+2.4 pp
+0.4 pp
−0.4 pp
+1.6 pp
−0.9 pp
−3.0 pp
−2.9 pp
−5.6 pp
−4.7 pp
−6.2 pp
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
—
—
—
+14.9 pp
+2.7 pp
+16.7 pp
−10.2 pp
+2.5 pp
+2.1 pp
−9.2 pp
−7.2 pp
−8.6 pp
−9.2 pp
−3.3 pp
−10.6 pp
+0.3 pp

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
+3.9 pp
+3.5 pp
+22.5 pp
+9.7 pp
+8.7 pp
+8.7 pp
+3.8 pp
+0.3 pp
−1.4 pp
−6.5 pp
−20.7 pp
−4.8 pp
−4.5 pp
+0.4 pp
+16.7 pp

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
—
+58.0 pp
+73.2 pp
+34.9 pp
+11.4 pp
+2.9 pp
−5.5 pp
−4.7 pp
−4.5 pp
−9.3 pp
−13.0 pp
−17.8 pp
−19.8 pp
−14.7 pp
−8.4 pp
+4.3 pp
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
—
+18.0 pp
—
+26.6 pp
+8.8 pp
−1.3 pp
—
−3.5 pp
−3.5 pp
−3.0 pp
−12.8 pp
−38.3 pp
−17.3 pp
−50.7 pp
−58.6 pp
−41.2 pp
—
11 · compare level, then change

Gross NPA — Leaders & Improvers

AU Small Finance Bank Ltd has the lowest Gross NPA among the 9 Banks - Small Finance companies compared here, at 2.1%. Ujjivan Small Finance Bank Ltd is next at 2.2%. Utkarsh Small Finance Bank Ltd has the lowest GNPA change at -5.3 percentage points, so level and change sit with different companies.

What the numbers say: AU Small Finance Bank Ltd leads gross npa at 2.1%; Utkarsh Small Finance Bank Ltd leads gnpa change at -5.3 percentage points.

LeaderAU Small Finance Bank Ltd · 2.1%
Gap2.8% versus #2 · Ujjivan Small Finance Bank Ltd
Persistence3/8 recent comparable periods
Coverage8/9 companies · 120 observations

Investor read: AU Small Finance Bank Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.
Gross NPAlowest
1AU Small Finance Bank Ltd AUBANK2.1%
2Ujjivan Small Finance Bank Ltd UJJIVANSFB2.2%
3Jana Small Finance Bank Ltd JSFB2.4%
4Equitas Small Finance Bank Ltd EQUITASBNK2.4%
5Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified2.5%
GNPA changefastest improvers
1Utkarsh Small Finance Bank Ltd UTKARSHBNK−5.3 pp
2ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified−2.1 pp
3Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified−1.9 pp
4Jana Small Finance Bank Ltd JSFB−0.5 pp
5Equitas Small Finance Bank Ltd EQUITASBNK−0.5 pp
Asset quality · company comparison
8/9 level · 8/9 change
All-company data · latest reported quarter
CompanyGross NPAGNPA changeReported
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified6.6%−1.9 ppJun 2026
Utkarsh Small Finance Bank Ltd UTKARSHBNK6.1%−5.3 ppJun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified5.4%−2.1 ppJun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified2.5%−0.3 ppJun 2026
Equitas Small Finance Bank Ltd EQUITASBNK2.4%−0.5 ppJun 2026
Jana Small Finance Bank Ltd JSFB2.4%−0.5 ppJun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB2.2%−0.4 ppJun 2026
AU Small Finance Bank Ltd AUBANK2.1%−0.4 ppJun 2026
Full 20-quarter history · every available company

Gross NPA · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
—
—
—
1.8%
1.7%
1.8%
1.9%
2.0%
1.7%
1.8%
2.0%
2.3%
2.3%
2.5%
2.4%
2.3%
2.0%
2.1%

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
3.0%
2.8%
2.8%
2.7%
3.0%
2.8%
2.7%
2.6%
2.7%
2.6%
2.7%
2.7%
2.7%
2.5%
2.5%

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
—
—
—
3.6%
2.8%
2.8%
2.3%
2.5%
2.6%
2.7%
3.0%
3.0%
2.9%
2.9%
2.9%
2.8%
2.6%
2.4%

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
7.2%
2.5%
1.7%
2.6%
4.2%
4.8%
6.6%
7.0%
7.0%
6.9%
7.5%
8.5%
5.6%
5.4%
5.4%

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
—
6.4%
3.9%
2.9%
2.4%
2.2%
2.1%
2.6%
3.0%
2.8%
2.7%
2.9%
2.9%
2.6%
2.5%
2.4%

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
4.2%
3.1%
3.0%
2.9%
3.1%
2.9%
2.8%
3.0%
5.5%
7.2%
8.5%
5.9%
6.7%
6.6%
6.6%

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
—
—
3.6%
2.9%
2.6%
2.4%
2.2%
2.2%
2.5%
2.5%
2.7%
2.2%
2.5%
2.5%
2.4%
2.3%
2.2%

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
—
—
3.6%
3.2%
3.1%
2.8%
3.0%
2.5%
2.8%
3.9%
6.2%
9.4%
11%
12%
11%
7.7%
6.1%

GNPA change · reported quarter history

AU Small Finance Bank Ltd · AUBANK

—
—
—
—
—
—
—
—
—
+0.2 pp
+0.0 pp
+0.0 pp
+0.1 pp
+0.3 pp
+0.6 pp
+0.7 pp
+0.4 pp
−0.0 pp
−0.3 pp
−0.4 pp

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
—
+0.0 pp
−0.0 pp
−0.1 pp
−0.1 pp
−0.3 pp
−0.2 pp
+0.1 pp
+0.1 pp
+0.0 pp
−0.0 pp
−0.3 pp

Equitas Small Finance Bank Ltd · EQUITASBNK

—
—
—
—
—
—
—
—
—
−1.1 pp
−0.2 pp
−0.0 pp
+0.7 pp
+0.4 pp
+0.3 pp
+0.2 pp
−0.0 pp
−0.2 pp
−0.3 pp
−0.5 pp

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
—
−3.1 pp
+2.3 pp
+5.0 pp
+4.3 pp
+2.8 pp
+2.1 pp
+0.9 pp
+1.6 pp
−1.3 pp
−1.5 pp
−2.1 pp

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
—
—
—
—
—
−4.2 pp
−1.8 pp
−0.3 pp
+0.5 pp
+0.6 pp
+0.6 pp
+0.3 pp
−0.1 pp
−0.2 pp
−0.3 pp
−0.5 pp

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
—
—
—
—
—
—
—
−1.2 pp
−0.2 pp
−0.2 pp
+0.1 pp
+2.5 pp
+4.2 pp
+5.6 pp
+2.9 pp
+1.2 pp
−0.6 pp
−1.9 pp

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
—
—
—
—
—
—
−1.5 pp
−0.7 pp
−0.1 pp
+0.2 pp
+0.5 pp
−0.1 pp
0.0 pp
−0.1 pp
−0.3 pp
+0.1 pp
−0.4 pp

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
—
—
—
—
—
—
−0.5 pp
−0.7 pp
−0.4 pp
+1.1 pp
+3.1 pp
+6.9 pp
+8.6 pp
+8.5 pp
+4.9 pp
−1.7 pp
−5.3 pp
12 · compare level, then change

Valuation Against Growth & Quality

Capital Small Finance Bank Ltd has the lowest P/BV ÷ ROE among the 9 Banks - Small Finance companies compared here, at 0.09×. Suryoday Small Finance Bank Ltd is next at 0.11×. Suryoday Small Finance Bank Ltd has the lowest P/BV at 0.83×, so level and change sit with different companies.

What the numbers say: Capital Small Finance Bank Ltd has the lowest comparable P/BV ÷ ROE at 0.09×, 18.2% below Suryoday Small Finance Bank Ltd. Only 7 of 9 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderCapital Small Finance Bank Ltd · 0.09×
Gap18.2% versus #2 · Suryoday Small Finance Bank Ltd
Persistence0/8 recent comparable periods
Coverage7/9 companies · 118 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
P/BV ÷ ROElowest return-adjusted price
1Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified0.1
2Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified0.1
3Jana Small Finance Bank Ltd JSFB0.2
4Ujjivan Small Finance Bank Ltd UJJIVANSFB0.2
5Fino Payments Bank Ltd FINOPB⚠ unverified0.2
P/BVlowest P/BV
1Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified0.8
2Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified0.9
3Utkarsh Small Finance Bank Ltd UTKARSHBNK0.9
4ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified1.2
5Jana Small Finance Bank Ltd JSFB1.4
Valuation · company comparison
7/9 level · 9/9 change
All-company data · latest reported quarter
CompanyP/BV ÷ ROEP/BVReported
Utkarsh Small Finance Bank Ltd UTKARSHBNK3.00.7Jun 2026
ESAF Small Finance Bank Ltd ESAFSFB⚠ unverified0.40.9Jun 2026
AU Small Finance Bank Ltd AUBANK0.33.9Jun 2026
Fino Payments Bank Ltd FINOPB⚠ unverified0.21.4Mar 2026
Equitas Small Finance Bank Ltd EQUITASBNK0.21.4Jun 2026
Ujjivan Small Finance Bank Ltd UJJIVANSFB0.11.8Jun 2026
Jana Small Finance Bank Ltd JSFB0.11.1Jun 2026
Suryoday Small Finance Bank Ltd SURYODAY⚠ unverified0.10.9Jun 2026
Capital Small Finance Bank Ltd CAPITALSFB⚠ unverified0.10.9Jun 2026
Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

AU Small Finance Bank Ltd · AUBANK

0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.4
0.2
0.3
0.3
—

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
—
—
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1

Equitas Small Finance Bank Ltd · EQUITASBNK

1.4
0.4
0.1
0.1
0.2
0.2
0.1
0.2
0.1
0.2
0.1
0.1
0.9
1.3
0.2
0.5
—
0.8
0.2
—

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
—
0.1
0.1
0.1
0.1
—
—
—
—
—
0.4
—

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
—
0.4
0.2
0.5
0.4
0.2
0.3
0.4
0.3
0.3
0.3
0.3
0.3
0.2
0.3
0.3
0.4
0.2
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
—
—
—
—
—
—
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
1.0
0.1

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

—
—
0.6
—
0.3
0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
—
0.1
0.1
0.1
0.1

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

—
—
—
0.0
0.0
0.0
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.3
0.2
0.2
0.1
—

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
—
—
—
—
—
0.1
0.2
0.2
0.2
0.1
0.3
—
3.0
—
—
—
—

P/BV · reported quarter history

AU Small Finance Bank Ltd · AUBANK

5.3
4.8
5.6
6.1
3.9
4.3
4.6
6.0
4.3
4.5
3.2
4.1
3.9
2.6
2.5
4.3
3.2
4.0
3.6
3.9

Capital Small Finance Bank Ltd · CAPITALSFB⚠ unverified

—
—
—
—
—
—
—
—
—
—
1.3
1.3
1.1
1.0
0.9
1.1
0.9
0.9
0.7
0.9

Equitas Small Finance Bank Ltd · EQUITASBNK

2.0
1.9
1.7
1.3
1.4
1.6
2.0
2.8
1.9
2.2
1.9
2.1
1.5
1.2
1.1
1.3
1.1
1.2
1.1
1.4

ESAF Small Finance Bank Ltd · ESAFSFB⚠ unverified

—
—
—
—
—
—
—
—
—
1.8
1.4
1.1
0.9
0.8
0.5
0.7
0.8
0.8
0.6
0.9

Fino Payments Bank Ltd · FINOPB⚠ unverified

—
19.0
13.5
4.1
3.8
4.2
3.5
4.5
4.8
3.7
4.1
4.4
5.1
4.0
2.8
3.7
2.9
2.8
1.4
—

Jana Small Finance Bank Ltd · JSFB

—
—
—
—
—
—
—
—
—
—
1.2
2.0
1.7
1.1
1.1
1.5
1.2
1.0
0.9
1.1

Suryoday Small Finance Bank Ltd · SURYODAY⚠ unverified

1.2
1.0
0.7
0.6
0.7
0.8
0.7
1.1
1.1
1.0
1.0
1.3
1.1
0.7
0.5
0.8
0.7
0.8
0.7
0.9

Ujjivan Small Finance Bank Ltd · UJJIVANSFB

1.2
1.2
1.0
0.8
1.0
1.5
1.5
2.3
2.6
2.4
1.8
3.4
1.4
1.1
1.1
1.6
1.4
1.6
1.6
1.8

Utkarsh Small Finance Bank Ltd · UTKARSHBNK

—
—
—
—
—
—
—
—
2.1
3.0
2.6
2.6
2.3
1.7
1.1
1.2
1.1
1.1
0.8
0.7
13 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Banks - Small Finance comparison names 6 specific ways its own evidence can mislead, all listed below. All 9 companies here report on comparable dates, so no rank carries a stale marker. 4 draw at least one figure from a second feed with too little overlap to cross-check. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
  • 4 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
14 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 9 Banks - Small Finance companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing5 cross-checked · 4 unverified · 0 withheld, of 9 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

15 · questions investors ask, short speakable answers

Banks - Small Finance company comparison FAQs

These 26 answers restate the Banks - Small Finance comparison above in question form. Every one is computed from the same 9 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Banks - Small Finance sector outperforming NIFTY 500?

Banks - Small Finance has outperformed NIFTY 500 by 15.5% over 52 weeks and 17.5% over 13 weeks. 7 of 9 covered companies beat NIFTY on Mansfield relative strength, while 4 of 9 beat the sector itself.

Which Banks - Small Finance company is largest by income?

AU Small Finance Bank Ltd leads with income of ₹19,560 crore, based on 9 of 9 comparable companies through Jun 2026.

Which Banks - Small Finance company is growing fastest?

Fino Payments Bank Ltd has the fastest current income growth at 27.1%, across 9 of 9 comparable companies.

Which Banks - Small Finance company has the strongest 4-Factor Sector Score?

Ujjivan Small Finance Bank Ltd ranks first at 63.5/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Banks - Small Finance company has the largest deposit base?

AU Small Finance Bank Ltd has the largest reported deposit base at ₹1,52,661 crore. Bank borrowings are operating funding, not industrial leverage.

Which Banks - Small Finance company has the lowest comparable P/BV-to-ROE?

Capital Small Finance Bank Ltd has the lowest comparable P/BV ÷ ROE at 0.09, among 7 of 9 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Banks - Small Finance comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty Banks - Small Finance index?

The Nifty Banks - Small Finance index tracks India's listed Banks - Small Finance companies as a single basket. This page follows the same 9 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Banks - Small Finance sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Banks - Small Finance stocks in India?

Ranked by this page's four-factor score, Ujjivan Small Finance Bank Ltd places first among 9 listed Banks - Small Finance companies, followed by AU Small Finance Bank Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Banks - Small Finance stocks are listed in India?

This comparison covers 9 listed Banks - Small Finance companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Banks - Small Finance company is the biggest?

AU Small Finance Bank Ltd is the largest, with trailing-twelve-month income of ₹19,560 crore, ahead of Ujjivan Small Finance Bank Ltd at ₹7,337 crore. That covers 9 of 9 companies with comparable reporting through Jun 2026.

Which Banks - Small Finance company makes the most profit?

AU Small Finance Bank Ltd earns the most, at ₹2,857 crore of trailing-twelve-month net profit, from 9 of 9 comparable companies. Suryoday Small Finance Bank Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Banks - Small Finance lender has the best asset quality?

AU Small Finance Bank Ltd reports the lowest gross NPA ratio at 2.1% — lower is better — across 8 of 9 lenders. Read the direction as well as the level: a rising NPA ratio off a low base can matter more than a high but falling one.

Which Banks - Small Finance company earns the highest return on capital?

AU Small Finance Bank Ltd leads on return on assets at 1.4%, across 9 of 9 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Banks - Small Finance stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Capital Small Finance Bank Ltd screens cheapest at 0.09×. Only 7 of 9 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Banks - Small Finance lender has the largest funding base?

AU Small Finance Bank Ltd has the largest reported deposit base at ₹1,52,661 crore. For lenders, deposits and borrowings are operating inputs rather than leverage, so they are read against asset quality and returns instead of as debt.

Is the Banks - Small Finance sector beating the market?

Banks - Small Finance has outperformed NIFTY 500 by 15.5% over the last 52 weeks and 17.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Banks - Small Finance stock has the strongest price momentum?

ESAF Small Finance Bank Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Banks - Small Finance company scores highest for research priority?

Ujjivan Small Finance Bank Ltd scores 63.5 out of 100 with 100% evidence confidence, from 21.2 points on growth and earnings, 18.3 on capital efficiency, 7.4 on valuation and 16.6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Banks - Small Finance companies does this comparison cover, and over what period?

It compares 9 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Banks - Small Finance sector?

The 9 Banks - Small Finance companies on this page carry ₹1,16,290 crore of combined market value. AU Small Finance Bank Ltd is the largest at ₹78,504 crore, about 68% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

What is the Banks - Small Finance sector's P/B ratio?

The median price-to-book ratio across the 9 Banks - Small Finance companies on this page is 1.4×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-05.

How is the Banks - Small Finance sector performing?

7 of the 9 covered Banks - Small Finance companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 15.5% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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